Here are some of our most frequently asked questions and their answers. For more information, please contact edugrants@creditunion.ky

Q. Is this a loan that requires repayment?

A. No, this is a grant which does not require repayment.

Q. Is this a scholarship?

A. No, this is a grant we offer to our members once every year.

*Note: Members are extended to children of members, siblings, and spouses.

Q. If I am one of the successful applicants, will I continue to receive the approved amount every month?

A. No. It is a one-time grant.

Q. When is the application process open and close?

A. Typically, it opens in State Month Opening Here and closes on 30 April by 11:59 pm.

Q. What are some main reasons a grant application was unsuccessful?

A.The most common reasons for declining grant applications are, but not limited to:

• Delinquent, Inactive, Dormant, or Closed Account
• Missing grades and/or exam results
• Under 3.0/Low GPA
• Did not provide up-to-date grades/transcript(s)
• Government or other Scholarship(s) Cover All Expenses
• Dishonest on the application

Q. If I was unsuccessful, can I re-apply?

A. Yes, we encourage all members in good standing at the Credit Union to apply.

Q. Who can write references?

A. A reference should not come from your immediate or extended family members. They can come from your teacher, professor, pastor, family friend, co-worker, or someone who knows you well.

Q. Is there any more information I need to know about references?

A. Academic references should come from a past or current teacher or professor. Character references can also come from educators or the other examples of persons listed in the question above. All references should be addressed to the Credit Union and not Cayman Islands Government or somewhere else. The references must be signed by your referee unless they answer the questions issued by the Rupert McCoy Educational Grant Programme Portal.

Q. What does “good standing” mean?

A. Members who apply for the grant must be in good standing. These are the main examples below of what it means to be in good standing:

• Not Delinquent – Member has a loan product that is being paid on time, and all payments are current.
• Compliant – Member has at least one valid ID on file; birth certificate (applies to students up to 17 years old), driver’s license, passport, voter’s card.
• All insurance policies must be current and valid.
• Member must have an Active account which means it cannot be:
  • Inactive – The account has had no activity for 6 months and needs to be reactivated.
  • Dormant – The account has had no activity for 12 months and needs to be reactivated.
  • Closed – The account is closed.

Q. Who makes the decisions to approve or decline the applications?

A. The Educational Grant Administrator is responsible for processing the information received and presenting the grant applications to the Internal Educational Grant Committee for further review. For more complicated application cases, the FINAL decisions are made by the External Educational Grant Committee. The Educational Administrator can only make suggestions to either committee based on the information received.

Q. What can I use the grant on?

A. The grant is designed for members to use the funds towards their educational needs. Some examples are, but not limited to:

• Tuition fees
• Books, materials for studies (laptop, printer, composition books, pens, etc.)
• Meal plans
• Airfare cost, transportation costs (bus, train, etc.)
• Clothing (may need a coat, boots, scarf, gloves when studying in cooler temperature overseas)
• Rent (students who live off campus instead of in the dorms)
• Furniture (study desk, lamp, etc.)
• Any educational related expenses